Economy
Retail Sales in U.S. Unexpectedly Rose in February as Shoppers Braved Snow Sales at U.S. retailers
unexpectedly climbed in February as Americans braved blizzards
to get to the malls, signaling consumers will contribute more to
economic growth.
Germany's Schaeuble Raises Specter of Euro Expulsion for Delinquent States German Finance Minister Wolfgang
Schaeuble called for “prohibitive” sanctions including
expulsion from the euro region as the ultimate penalty for
countries that repeatedly flout debt rules.
Yellen Is Said to Be Obama's Choice for Fed Vice Chairman to Replace Kohn Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, two
people with knowledge of the selection process said.
Europe Industrial Output Jumps Most in 20 Years on Reviving Global Growth European industrial output rose the
most in two decades in January as the reviving global economy
prompted companies to boost production of goods including steel
and machinery parts.
IEA Raises 2010 Crude Oil Demand Estimate on Developing Economies, China The International Energy Agency
raised its forecast for global oil demand this year for a second
month as fuel consumption in Asia rises more than expected.
Japan May Cushion BOJ Balance-Sheet Contraction, `Preserve' Easing Options Japan’s central bank may seek next
week to counter a contraction of its balance sheet caused by the
month-end expiration of an emergency-credit program as deflation
persists in the world’s second-largest economy.
Inflation Eroding China's Deposits May Add Fuel to Asset-Bubble Pressures China’s accelerating inflation has
started to erode household savings, threatening to spur
purchases of property and stocks and fuel asset-price pressures.
Indonesia Credit Rating Raised to Highest in 12 years by Standard & Poor's Indonesia’s sovereign debt rating
was raised to the highest level in 12 years by Standard & Poor’s
after the central bank increased the country’s economic growth
forecasts this week. Bonds and the rupiah rose.
Indian Industrial Output Rises 16.7%, Adding to Pressure on Interest Rates India’s industrial production rose
16.7 percent in January, diminishing spare capacity and
contributing to inflationary pressures that may spur the central
bank to raise interest rates within weeks.
China May Face `Massive' Bank Bailouts From Financing of Stimulus Projects China may be forced to bail out
banks that made loans for local-government projects under the
unprecedented stimulus program unleashed in 2008, according to
Citigroup Inc. and Northwestern University’s Victor Shih.
Australian Home Prices to Keep Rising on Building Shortage, Council Says Australian home prices will keep
rising due to a building and land shortage, according to a unit
of the Property Council of Australia.
Yellen Said to Be Obama Pick for Fed Vice Chairman to Replace Donald Kohn Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, two
people with knowledge of the selection process said.
Fed's Dudley Says U.S. Should Reduce Budget Deficit Amid Fragile Recovery Federal Reserve of New York
President William Dudley said the U.S. should reduce projected
government budget deficits even though the economy is weak and
may relapse into recession.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
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